Welding Equipment & Consumables Market

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Welding Equipment Consumables Market - Global
Industry Analysis by Application and Regional
Outlook till 2024
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• Welding Equipment Consumables Market Scenario

• The extensive proliferation in the application
  spectrum of welding equipment consumables
  market has locked exceptional gains for the
  industry in the coming years. The massive
  application gamut that spans the automobiles,
  aerospace, buildings construction, oil gas
  industries are certain to garner huge demand for
  welding equipment and uplift the market trends in
  the ensuing years.
• The fact that aforementioned end-use sectors find
  extensive usage of several welding equipment in
  industrial fabrication processes, turns out to
  be a fundamental factor fueling welding equipment
  consumables industry expansion. The global
  welding equipment consumables market is
  anticipated to expand at a CAGR of more than 4
  over the period of 2017- 2024.
• The welding electrodes and flux cored wires are
  poised to remain the major consumables, while
  other products such as solid wires, SAW Fluxes
  are likely to exhibit significant growth trends.
  In 2016, the flux cored wires segment within the
  welding equipment consumables market generated
  revenue worth USD 900 million, acquiring a
  subsequent chunk of the industry share.

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• Taking into account the geographical landscape,
  Asia Pacific is touted to be the prime revenue
  pocket and is anticipated to account for more
  than 40 of the global welding equipment
  consumables industry share by 2024. The vast
  application scope in the region, on account of
  expanding growth opportunities in automobile,
  construction, shipbuilding, transportation, and
  aerospace industries is poised to provide
  remarkable threshold to the regional welding
  equipment consumables market in the forthcoming
  years.
• With all the above-mentioned facts in view,
  technological innovations, expanding application
  spectrum, and growing geographical reach are
  certain to add a new dynamism to welding
  equipment consumables industry in terms of
  revenue and commercialization.

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• Regional Analysis

• In 2016, Asia Pacific construction spending
  accounted for over USD 4 trillion and contributed
  to more than 45 of worldwide construction
  expenditure. These statistics depicts the robust
  pipeline of construction and infrastructure
  development projects in the developing economies
  including India and China, which will overtly
  stimulate welding equipment consumables market
  share.

• Competitive Analysis

• ESAB Group, Lincoln Electric Company, Miller
  Electric, Senor Metals Private Limited, Arcon,
  Panasonic Corporation, and Miyachi America
  Corporation are some of the prominent industry
  players attempting to bring technological
  interventions in the welding equipment
  consumables market. These companies highly rely
  on product advancements and mergers
  acquisitions to sustain in the competitive
  scenario.

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